The Granny Flat
Since 2013 the demand for granny flats has come into its own. It’s a hobby room, a home office, an art room, a guest suite, a private yoga studio, a music room, a teenagers’ retreat. It’s a starter home for those older offspring yet to fly the nest and yes, it’s of course a space that Nan and Pop can call their own.
How much room do I need for a granny flat?
Generally speaking, you will need a minimum block size of 450sqm to build a granny flat of up 60sqm and you also need to provide one car parking space.
Investment benefits of a granny flat?
- Over the past few years’ many councils changed the rules governing granny flats.
Granny flats are now able to be built with a Complying Development Certificate, provided your development plans meet the necessary AHSEPP provisions (talk to Spinryde about these).
- A granny flat can now be rented out to someone who is not a member of the family.
- These decisions have helped put granny flats back on the radar and opened up all sorts of possibilities for people looking for an investment. Here are some of the benefits of building a granny flat as an investment:
- Unlock the potential in your own backyard without having to subdivide.
- It can be rented out to students, young professionals and tenants of any age looking for affordable, yet independent accommodation.
- Great option for mum and dad investors who want a straightforward build without having to subdivide or buy land. They save time and money.
- You’re making use of land you already own and can enjoy the prospect of long-term rental gains.
- Creates a source of income.
- The extra living space helps your property appreciate in value. It becomes a functional and flexible proposition for potential buyers, which can increase re-sale value and interest in your property when it comes time to sell.
Where are Granny Flats allowed to be build?
Granny flats may be allowed in several residential zones. Councils determine if granny flats are permissible in the zones which include:
- Zone R1 General Residential
- Zone R2 Low Density Residential
- Zone R3 Medium Density Residential
- Zone R4 High Density Residential
- Zone R5 Large Lot Residential (via development application only
- Equivalent zones for the council area.
Contact Spinryde today to talk about the possibility of a granny flat in your backyard.